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Yahoo Says Yah-no to Microsoft

Yahoo!

On Saturday May 3rd, Yahoo received another counter bid for the acquisition of Yahoo by Microsoft. Yahoo declined their offer (again)…

At the meeting, which also included Yahoo’s other founder, David Filo, and a Microsoft president who oversees its online unit, Kevin Johnson, Mr. Ballmer increased Microsoft’s offer to $33 a share, or a total of about $47.5 billion, from $29.40 a share. Mr. Yang told Mr. Ballmer that Yahoo would not accept an offer below $37 a share, this person said. -NyTimes

Yahoo was simply milking the cow, but it looks like they either got greedy or they overvalue their assets. Microsoft’s Chief Executive went on to say: “After careful consideration, we believe the economics demanded by Yahoo do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal.” Tough love Yahoo! Not to worry though – Yahoo shouldn’t have any problem selling their company for a couple billion – it’s only a matter of who offers the most dollars.

A few other companies who have showed interest in the acquisition of Yahoo is AOL (Time Warner), MySpace (Fox), and this guy. Should be very interesting to watch how this unfolds in the next year or two.

Google Gets Social?

Eric Schmidt Or at least that is the rumor. A recent NY Times blog entry stated that Google CEO and founder, Eric Schmidt, mentioned in a conversation how social networking isn’t simply a “fad” or something that will pass in time.

“People don’t appreciate how many page views on the Internet are in social networks,” Mr. Schmidt told a group of reporters at the end of its Zeitgeist conference, a two-day gathering of an eclectic mix of Google partners, competitors, social activists and politicians.

Social networks, he said, account for an “enormous proportion” of Internet usage, he added. “It is very real. It’s a very real phenomenon.” – Eric Schmidt, Google CEO.

This doesn’t confirm any actions Google might take in the future, of course. However, Schmidt also didn’t shoot down the possibility of Google jumping into the social networking arena. Google plans on using the information they have on their customers/visitors for future projects. With all the information they have on us (the entire human race, basically), who knows what kind of supercalifragilisticexpialidocious social networking site they can create.

To hell with Facebook + Myspace, I say! Let us all throw our hats to Google and bow down to their almighty web presence.